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An empirical analysis of shopping basket similarities across consumers

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  • Jungwon Yeo

Abstract

What makes shopping baskets similar or different across consumers and how much of shopping basket similarities is explained by similarities in observable characteristics, especially when a typical basket includes a few hundred products as a result of the consumer’s purchase decisions over tens of thousands of products? I attempt to answer these questions by expressing the entirety of households’ baskets as a vector of expenditure shares on various grocery products and computing pairwise cosine similarities. I find households’ shopping baskets vary greatly, with similarities in the demographic profiles and where they shop explaining only about 13%-16% of their similarities. The similarity in where households shop has the largest explanatory power, orders of magnitude larger than similarities in demographic profiles such as income and race. It underlines the importance of similarities in the products offered to households in explaining similarities in the products they ultimately purchase.

Suggested Citation

  • Jungwon Yeo, 2024. "An empirical analysis of shopping basket similarities across consumers," Applied Economics, Taylor & Francis Journals, vol. 56(1), pages 98-116, January.
    • Handle: RePEc:taf:applec:v:56:y:2024:i:1:p:98-116
    DOI: 10.1080/00036846.2023.2166673
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